https://www.taxtmi.com/caselaws?id=442986 The Tribunal quashed the Principal Commissioner of Income Tax's order under section 263, finding that the Commissioner failed to establish conclusively that the assessing officer's order was both erroneous and prejudicial to revenue, despite satisfaction with the submissions and evidence provided by the assessee. The Tribunal held that the conditions necessary for invoking section 263 were not met, leading to the decision to annul the Principal Commissioner's order. en-us Mon, 11 Sep 2023 00:00:00 +0530 Wed, 13 Sep 2023 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442986 The Tribunal quashed the Principal Commissioner of Income Tax's order under section 263, finding that the Commissioner failed to establish conclusively that the assessing officer's order was both erroneous and prejudicial to revenue, despite satisfaction with the submissions and evidence provided by the assessee. The Tribunal held that the conditions necessary for invoking section 263 were not met, leading to the decision to annul the Principal Commissioner's order. Case-Laws Income Tax Mon, 11 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442986